Fall Away Event definition
Examples of Fall Away Event in a sentence
In the event of the occurrence of a Fall Away Event (and notwithstanding the failure of Parent subsequently to maintain an Investment Grade Rating), the provisions of Sections 4.8, 4.9, 4.12, 4.13 and 4.14 hereof and clause (iv) of Section 5.1(a) hereof will no longer be applicable to the Securities.
If on any date following the date of this Indenture the Notes have an Investment Grade Rating from both of the Rating Agencies and no Default or Event of Default has occurred and is continuing (a "Fall Away Event"), then, beginning on that day and continuing at all times thereafter regardless of any subsequent changes in the rating of the Notes, Sections 3.09, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12(a), 4.13, 4.15, 4.16(a), 4.17 and Section 5.01(a)(4) hereof shall no longer be applicable to the Notes.
In the event of the occurrence of a Fall Away Event with respect to the Notes (and notwithstanding the failure of the Company subsequently to maintain an Investment Grade Rating with respect to such Notes), the provisions of Sections 4.8, 4.9, 4.12, 4.13 and 4.14 hereof and clause (iv) of Section 5.1(a) hereof will no longer be applicable to the Notes.
The rate of interest payable on overdue principal and interest, including post-petition interest, shall be increased, to the extent lawful, by 1% per annum unless a Fall Away Event shall have occurred.
In the event of the occurrence of a Fall Away Event with respect to the Notes of a series (and notwithstanding the failure of the Company subsequently to maintain an Investment Grade Rating with respect to such series of Notes), the provisions of Sections 4.8, 4.9, 4.12, 4.13 and 4.14 hereof and clause (iv) of Section 5.1(a) hereof will no longer be applicable to the Notes of the applicable series.